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Prada Conversion Foreign currency monetary items are retranslated using the exchange rate prevailing at the reporting date. Non items, which are measured in terms of historical cost denominated in a foreign currency, are reported using the exchange rate at the date of transaction. c) Exchange differences Exchange differences arising on conversion/ settlement of foreign currency monetary items are recognised as income or expense in the year in which they arise. d) Translation of integral and non integral foreign operations The operations of foreign branches of the Company are integral in prada bags sale nature and financial statements of the integral foreign operations are translated as if the transactions of the foreign operations have been those of the Company itself. e) Forward exchange contracts entered into to hedge foreign currency risk of an existing asset/ liability The premium or discount arising at the inception of forward exchange contract is amortised and recognised as an expense/ income over the life of the contract. Exchange differences on such contracts are recognised in the statement of profit and loss in the period in which the exchange rates changes.
Prada Any profit or loss arising on cancellation or renewal of such prada bags sale forward exchange contract is also recognised as income or expense for the period. 1.09 Government Grants and Subsidies Grants and subsidies from the government are recognised when there is reasonable assurance that (a) the Company will comply with the conditions attached to themprada bags sale. When the grant or subsidy relates to revenue, it is recognised as income on a systematic basis in the statement of profit and loss over the periods necessary to match them with the related costs, which they are intended to compensate.
Prada The following specific recognition criteria must also be met before revenue is recognised: a) Sale of goods Revenue from sale of goods is recognised when all the significant risks and rewards of ownership of the goods have been passed to the buyer and no significant uncertainty exists regarding the amount of consideration that will be derived from the sale of goods. Sales are recorded net of returns and trade discount. The Company collects sales tax and value added tax (VAT) on behalf of the government and, therefore, these are not economic benefits flowing to the Company and therefore are excluded from revenue.prada uk Excise duty is deducted from revenue (gross) to arrive at revenue from operations (net). Sales do not include inter transfers. b) Export incentives Export incentives under various schemes notified by the government have been recognised on the basis of their entitlement rates in accordance with the Foreign Trade Policy 2009 (FTP 2009 Benefits in respect of Advance Licences are recongnised when there is reasonable assurance that the Company Claims Claims are recognised when there exists reasonable certainty with regard to the amounts to be realised and the ultimate collection thereof.
Prada Segment Reporting Identification of segments The Company operating businesses are organised and managed separately according to the nature of products and services provided, with each segment representing a strategic business unit that offers different products and serves different markets. The analysis of prada bags sale geographical segments is based on the areas in which major operating divisions of the Company operate. Segment accounting policies The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole. prada bags Earnings Per Share Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effect of all potentially dilutive equity shares. 1.15 Taxes on Income Tax expense for the year comprises of current tax and deferred tax.
Prada Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised and carried forward only to the extent that there is reasonable certainty that sufficient future taxable income prada bags sale will be available against which such deferred tax assets can be realised. prada outletIn situations, where the Company has unabsorbed depreciation or carry forward losses under tax laws, all deferred tax assets are recognised only to the extent that there is virtual certainty supported by convincing evidence that they can be realised against future taxable profits. Deferred tax assets and deferred tax liabilities are off set, if a legally enforceable right exists to set current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to taxes on income levied by the same governing taxation laws. In the situations, where the Company is entitled to a tax holiday under the Income Act, 1961, no deferred tax asset/ (liability) is recognised in respect of timing differences which are reversible during the tax holiday period, to the extent the Company gross total income is subject to the deduction during the tax holiday period as per taxation laws. Deferred tax, in respect of timing differences which are reversible after the tax holiday period, is recognised in the year in which the timing differences originate. However, the Company restricts recognition of deferred tax assets to the extent that it has become reasonably certain or virtually certain supported by convincing evidence, as the case may be, that sufficient future taxable income will be available against which such deferred tax assets can be realised. For recognition of deferred taxes.